Bigasoft PSP Video Converter 

Bigasoft PSP Video Converter is a commercial video converter. It allows you to convert videos encoded with different formats into files that will play well on your Playstation Portable and other multimedia playback devices. This converter will let you open the most popular formats, and it can convert files into ASF, AVI, MPEG-4, H.264, RM, MKV and WebM.

There is a video editor which allows you to trim and crop your videos. By trimming a video, you are making a shorter clip out of it, whereas when you crop it, you are reducing its resolution (or size). The editor also allows you to add effects to your videos and adjust their brightness, contrast and saturation.

Bigasoft PSP Video Converter comes with several video conversion profiles. These are preset conversion settings. There are four of them for the PSP, and you can customize them if you want.

In terms of performance, I can say that this converter works as an expected one. I converted an AVI file into H.264, and the process didn't take long for a 1-minute clip. I would say it was done in less than 20 seconds. The resulting file looked good on my computer.